Amundi Acquires 27,212 Shares of SL Green Realty Corp. (NYSE:SLG)

Amundi increased its holdings in SL Green Realty Corp. (NYSE:SLG) by 20.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 158,185 shares of the real estate investment trust’s stock after buying an additional 27,212 shares during the quarter. Amundi owned about 0.24% of SL Green Realty worth $10,209,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SLG. Venturi Wealth Management LLC increased its holdings in SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of SL Green Realty by 6.1% during the 3rd quarter. Victory Capital Management Inc. now owns 23,900 shares of the real estate investment trust’s stock valued at $1,664,000 after purchasing an additional 1,380 shares during the period. Metis Global Partners LLC grew its stake in shares of SL Green Realty by 31.3% during the 3rd quarter. Metis Global Partners LLC now owns 6,674 shares of the real estate investment trust’s stock valued at $465,000 after purchasing an additional 1,591 shares during the period. Quest Partners LLC grew its stake in shares of SL Green Realty by 350.8% during the 3rd quarter. Quest Partners LLC now owns 2,691 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 2,094 shares during the period. Finally, LMR Partners LLP bought a new stake in shares of SL Green Realty during the 3rd quarter valued at about $365,000. 89.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SLG. Truist Financial boosted their price target on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Barclays cut their price target on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Scotiabank cut their price target on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company cut their price target on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, Bank of America lowered their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.00.

Insider Transactions at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.08% of the company’s stock.

SL Green Realty Stock Up 2.0 %

NYSE SLG opened at $56.67 on Friday. The stock’s 50 day moving average is $63.99 and its 200 day moving average is $69.33. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81. The stock has a market cap of $4.04 billion, a PE ratio of 708.40, a P/E/G ratio of 5.30 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. Research analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.09 annualized dividend and a dividend yield of 5.45%. SL Green Realty’s dividend payout ratio (DPR) is 3,862.50%.

SL Green Realty Profile

3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.